International Business Machines Co. (NYSE:IBM) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its position in shares of International Business Machines Co. (NYSE:IBM) by 8.1% in the third quarter, HoldingsChannel reports. The firm owned 713,362 shares of the technology company’s stock after selling 63,045 shares during the period. International Business Machines makes up 0.6% of Retirement Systems of Alabama’s investment portfolio, making the stock its 25th largest position. Retirement Systems of Alabama’s holdings in International Business Machines were worth $157,710,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. grew its holdings in International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock worth $126,000 after buying an additional 166 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of International Business Machines in the second quarter worth $7,160,000. Philip James Wealth Mangement LLC acquired a new position in shares of International Business Machines during the third quarter valued at $5,117,000. Aljian Capital Management LLC bought a new stake in shares of International Business Machines during the third quarter valued at about $611,000. Finally, Focused Wealth Management Inc lifted its holdings in International Business Machines by 52.2% in the third quarter. Focused Wealth Management Inc now owns 11,327 shares of the technology company’s stock worth $2,504,000 after purchasing an additional 3,887 shares during the period. Institutional investors own 58.96% of the company’s stock.

Insider Activity

In related news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the completion of the sale, the senior vice president now directly owns 25,390 shares in the company, valued at approximately $5,463,928. The trade was a 12.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.07% of the stock is owned by insiders.

International Business Machines Stock Up 0.1 %

International Business Machines stock opened at $232.52 on Friday. The firm’s 50 day moving average price is $222.57 and its two-hundred day moving average price is $201.12. The firm has a market cap of $215.00 billion, a PE ratio of 33.81, a P/E/G ratio of 5.17 and a beta of 0.73. International Business Machines Co. has a twelve month low of $157.88 and a twelve month high of $239.35. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06.

International Business Machines (NYSE:IBM) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The firm had revenue of $14.97 billion during the quarter, compared to analysts’ expectations of $15.08 billion. During the same quarter last year, the firm earned $2.20 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts predict that International Business Machines Co. will post 10.12 EPS for the current fiscal year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were given a $1.67 dividend. This represents a $6.68 annualized dividend and a yield of 2.87%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Analyst Upgrades and Downgrades

IBM has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price target on shares of International Business Machines from $235.00 to $260.00 and gave the stock a “market perform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price target on International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $250.00 price objective on shares of International Business Machines in a research note on Thursday, October 24th. UBS Group lifted their target price on International Business Machines from $130.00 to $145.00 and gave the stock a “sell” rating in a report on Wednesday, September 4th. Finally, DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price objective on the stock. in a research note on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $208.12.

International Business Machines Company Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.